Writing on his website at the weekend, Schumacher, who was F1 champion seven times said: “Of course at first it seems unimaginable, but this time all the big teams are standing behind this. So a new championship would already seem much more realistic.
“For me it has become a real alternative. As a motorsport fan I will go where the best show is. And that is where the best drivers and the best teams go up against each other.”
The biggest teams of the competition have withdrawn their entries to the 2010 F1 season in protest at new rules being introduced by the organisers which would limit teams' budget to €45 million a year.
Ferrari, McLaren-Mercedes, Brawn GP, BMW-Sauber, Red Bull, Toro Rosso, Toyota and Renault have not registered to compete next year and are instead mooting a new competition.